Cryptocurrency analyst and trader Kevin Svenson believes Bitcoin (BTC) is poised to set fire to a sudden rally with shallow pullbacks.
In a new strategy session, Svenson tells 83,500 YouTube subscribers that Bitcoin is likely to print the highest price ever as it launches the final stages of Parabolic Advance.
Svenson believes the rally is visible for BTC, but warns that a sudden revision could lead to the next leg.
“We are now in the vertical stage, and we are likely to see prices go to levels like $140,000 to $150,000.
And unlike textbook diagrams, it’s not of course what happens. It will not be a straight line. On the way to those higher levels, chops, volatility will be done all the time.
Maybe around October, we’ll see between $140,000 and $150,000 on Bitcoin. ”
Source: Kevin Svenson/YouTube
Looking at the trader’s charts, he appears to suggest that Bitcoin is currently escaping the base 4 of the parabolic curved pattern.
Bitcoin is trading at $116,445 at the time of writing.